The reason is because most pet insurance companies will not cover an existing condition. Therefore, the earlier you get pet insurance, the better your chances of being covered for any costly problems that may arise.
Puppy insurance is also generally cheaper than older dog insurance, as insurance is always cheaper for healthier and younger pets.
Pet insurance is also ideal for pets because – let’s face it – while puppies and kittens are objectively adorable, they are also pretty silly.
They eat things they shouldn\'t. They are clumsy. They don\'t hear well. They get sick easily. They ran out of the back door into the street because they saw a butterfly. They want to say hello to the aggressive dog across the street because they don’t have the social skills and don’t read let go of the vibrations other dogs emit.
3 Main Types of Pet Insurance
There are several types of pet insurance available. Accidents & Illness tend to be the most common plan, but there are other options as well.
- Accident & Illness Plan (aka comprehensive). This type of plan is the most popular, covering emergency accidents (like your dog swallowing a sock or being hit by a car) as well as illnesses (like cancer, arthritis, etc.) . Over 80% of pet insurance plans are accident & illness plans.
- Accident Plan only. This type of plan will only cover emergency accidents, such as motor vehicle accidents.
- Health Plan. This is a relatively new type of show that is becoming increasingly popular. The health plan does not work like regular animal insurance – instead, it covers routine treatments, such as annual tests, treatment of fleas and ticks, vaccinations, etc. They usually work in addition to regular pet & illness insurance plans.
A pet insurance plan is an accident & illness plan. There are categories of health plans – these aren’t technically animal insurance plans, but they’re popular – and we’ll detail them further below.
A standard pet insurance plan covers injuries and accidents (aka wounds, car trauma, broken bones) or illness (kidney disease, infection, cancer, etc.).
types of pet insurance deductions
Although pet insurance works differently than human health insurance, many of the terms used are the same. The plan requires you to pay a deductible before your plan begins.
What can be deducted is the dollar amount you have to pay for vet treatment before your plan starts paying for something.
There are several types of deductions:
- Annual Deduction (Most Common). You have to pay a certain amount of money out of pocket before your plan starts, with your re -deductions each year.
- Every Condition Can Be Rejected. You will need to pay a deduction for each illness or condition of your dog before your plan begins. Sometimes this cut is reset every year, while in other cases, it is for the rest of your pet’s life. This may mean you have to pay $ 100 for your dog’s allergy treatment initially, but then for the life of your dog, all future allergy treatments are covered.
types of pet insurance benefit limits
Depending on your plan, you will face various types of limits on the amount your provider will cover.
- Lifetime Unlimited. Once you get the deduction, the pet insurance company will pay 100% of your pet’s medical bill.
- Annual Maximum. Some pet insurance companies will limit payments annually (e.g. $ 10,000 per year). Once you reach the annual limit, you will not be reimbursed for veterinarian treatment for that year. The annual limit starts again every year.
- Annual Each Event. Several pet insurance companies operate on an illness preparedness, with a maximum dollar amount they will spare for a particular illness or condition in a particular annual year.
- Maximum Lifetime. This is the maximum amount that a pet insurance company will pay over the life of your pet (either the total amount or per condition). Chronic conditions such as dog allergies can reach a lifetime maximum limit.
There are many variations on the limits of pet insurance benefits. The most popular plans are plans that have 100% unlimited lifetime coverage, but they have some very large monthly premiums.
Other companies offer unlimited annual coverage, but will still have a limit on the cost of treatment per condition. Some have an annual coverage limit as well as a cost per treatment (this tends to be the plan with the most affordable monthly deduction).
What about Existing Conditions and/or Specific Issues for Breeding?
Unfortunately, most pet insurance plans will not cover pre -existing conditions. That is, if you go to your veterinarian and find out that your dog has hip dysplasia and needs surgery, then go home and try to sign up for pet insurance that evening, your dog’s hip surgery will not be covered.
This is why in general, if you choose to get pet insurance, the sooner you sign up, the better.
Should You Get Pet Insurance? 11 Factors to Consider
Pet insurance can be a lifesaver for some people. But for others, that doesn’t make sense. Let’s discuss some of the factors that might make pet insurance a better option for some than others.
Is your dog a functioning dog?
Is your child a functioning boi? Does your dog herd sheep, hunt varmit, or track down prey?
If so, then you can expect higher -than -usual vet costs for broken nails and other wear problems.
Does your dog do high -risk activities?
What do you and your dog do together? Do you go hiking with your dog? Do you participate in dock diving, agility, or other dog sports?
We’re not saying we have it any other way, but the fact is, the longer -term your dog is involved outdoors, the higher his risk of injury compared to a sleepy potato.
How much risk do you refuse?
Are you generally someone who feels anxious or nervous about not having your ducks in a row? Does the idea of unexpected financial needs make you lose sleep at night? If so, pet insurance may be a way to give you peace of mind.
On the other hand, if you are a more care -free individual who prefers to deal with problems when they arise, perhaps pet insurance will not be your need.
Do you have 5-10k for emergency medical treatment?
If you do, you probably won’t benefit from pet insurance, as you can only pay out of pocket.
However, if this turns out to be a devastating financial loss, it may be easier to pay a smaller, ongoing monthly premium to circumvent the risk of financial incidents all at once.